Real Deals: Tontitown lots sell twice in one day for combined $15.76 million

A Cave Springs investment firm recently bought and sold 73 residential lots in Tontitown in separate transactions on the same day, totaling $15.76 million.

Hoplon Investments LLC, managed by Misty McMullen, principal broker and owner of Rogers-based real estate firm McMullen Realty Group, paid $7.15 million for the lots on 19.81 acres in phase two of the Bariloche addition on Klenc Road, about a half mile south of U.S. Highway 412. The purchase price equals $98,000 per lot. The seller was Bentonville-based Infas Corp., whose president is Merlin Joe.

The same day, a fund of New York-based real estate investment platform TPG Angelo Gordon paid Hoplon $8.61 million for the lots, or $118,000 per lot. TPG Angelo Gordon’s Essential Housing primarily provides land financing for homebuilders and has a two-year, option-to-purchase agreement on the lots with Joplin, Mo.-based homebuilder Schuber Mitchell Homes LLC. Realty Title & Closing Services LLC was the title agent.

Infas bought the land in separate transactions totaling $2.02 million in January 2022. The sellers were Joseph Bariola and Kristopher Keck.

Centerton Car Wash
A 4,041-square-foot tunnel car wash on East Centerton Boulevard (Arkansas Highway 102) in Centerton recently changed hands for $6.43 million. The purchase price equals $1,591 per square foot.

An affiliate of Austin, Texas-based Glen Una Investment & Management Co. bought the new Splash Car Wash on 1.59 acres at 250 E. Centerton Blvd. Glen Una, the real estate investment and property management company for the Levy Family Trust, owns more than 60 properties across 17 states, totaling over 11 million square feet of commercial, industrial and retail space.

The seller was Splash Centerton LLC, managed by Andrew Holbert. Splash Centerton shares an address with Little Rock-based commercial real estate firm Colliers Arkansas, where Holbert is principal and executive vice president.

Splash Centerton bought the land for $1.32 million in December 2022. The seller was Burrell Inc., a Missouri nonprofit and successor by merger with Youth Bridge Properties Inc.

Rogers Apartments
A 32-unit multifamily development northwest of West Olive Street and North Dixieland Road in Rogers has a new owner after a recent transaction worth $5.3 million. The purchase price equals $165,625 per unit.

New York-based Boardwalk 25 LLC, led by Alex Roth, bought the Boardwalk Condominium Apartments on 5.08 acres at 800 N. 19th St. Earlier this year, other limited liability companies managed by Roth acquired a 76-unit multifamily development in the Carriage Square addition in Bentonville and the 96-unit Berryfield Apartments and 54-unit Vantage Point Apartments, both in Springdale.

The seller of the Rogers development was Rogers-based Boardwalk Townhouses LLC, managed by Tommy Mardis. Rogers-based Generations Bank provided a two-year loan of $4.77 million. City Title & Closing LLC was the title agent.

Built in 2004, the single-story multifamily development includes two-bedroom units comprising 1,160 square feet with attached garages.

Fayetteville Properties
Three multistory, single-family homes and 2 acres of timberland west of Donald W. Reynolds Razorback Stadium in Fayetteville recently sold in separate transactions totaling $4.4 million.

Prairie Grove-based Double D Holdings LLC, led by Derek Winkle and Dakota Riggin, bought a 5,546-square-foot home on 0.44 acres, 4,253-square-foot and 1,521-square-foot homes on 0.69 acres, and 2 acres of timberland adjacent to city-owned Markham Woods on West Maple Street. The three homes are in the 400 block of North Oliver Avenue.

The sellers were John La Tour and Elizabeth La Tour, Chris Jaber, and Ernest Lucas and Carole Lucas. The Bank of Fayetteville, a division of Stuttgart-based The Farmers & Merchants Bank, provided a three-year loan of $3.45 million.

John La Tour paid James Lindsey $66,000 for the 5,546-square-foot home in January 1987. Jaber paid John La Tour $3.3 million for the 4,253-square-foot and 1,521-square-foot homes in May 2025.

Andrew Lucas and Shirley Lucas paid W.J. Butt and Frances Butt $6,000 for the 2-acre property in January 1975 before transferring it to Ernest Lucas and Carole Lucas in January 2014.

Editor’s note: Information in this report was gathered with assistance from the office of Benton County Assessor Roderick Grieve.